The construction industry added 60,000 jobs between January and February, as hourly construction wages recorded their steepest rise since 1982, the Associated General Contractors of America reported.
Hourly construction wages climbed to $31.62, a 6.0% increase compared with February 2021. Compared with private sector averages across industries, average hourly construction wages are ahead 17%.
Employment increased at all types of construction firms in February, as non-residential construction firms added 29,400 jobs and residential construction firms added 31,000.
The number of unemployed jobseekers with construction experience declined 26% year-over-year, however. “The decline is further evidence that the industry will have a hard time filling positions with experienced workers,” AGC Chief Economist Ken Simonson noted.
The full AGC report can be found here.